The board of Nashville, Tenn.-based HCA Healthcare authorized a share buyback program Jan. 27.
The 182-hospital system plans to buy back up to $8 billion in outstanding stock, according to a filing with the Securities and Exchange Commission. The authorization allows the company to buy back the shares through the open market and privately negotiated transactions.
HCA reported net income of $1.8 billion on revenues of $15.1 billion in the fourth quarter of 2021. In the fourth quarter of 2020, HCA reported a profit of $1.4 billion on revenues of $14.3 billion.